If you buy a house and live in it with roommates then you get a little practice being a landlord (dealing with roommates as tenants, dealing with home repairs, etc.) and it wouldn't consume as much of your time.

My thought/worry exactly and I'm actually quite curious what the industry averages are on the practice of keeping security deposits in situations where they shouldn't be.

Hey I'm just practice analyzing what good deal are..

If this is a great practice that will save me in the long run, I will bite the bullet and pay the cost however I wanted to get your input on the LLC. 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

The practical way to look at depreciation is that without it your current tax bill will be higher, and with depreciation your current tax bill will be lower.

I have had my eye on some upcoming tax auction properties, mostly to watch and learn from the process, but if they go for the right price I may try to bid.Anyway, I am trying to do my due diligence stuff ahead of time both for practice and so I feel comfortable bidding up to a pre-determined limit... but I want to make sure I'm understanding everything right.1) Tax DEEDS - I've been searching a lot on these forums and it seems like there's more about liens than deeds, but in Idaho, it seems they do tax deed auctions. 

While wholesaling itself is a completely legal and valid practice, when you start getting creative, you can easily start making some moves that can land you in hot water (if you get caught). 

The 2nd appraisal was apparently done simultaneously as the first one, as they both had the same date on them.

It may be a non-issue to take out the cash even though it's in an LLC.Also, I agree with @Michael Plaks that this is a topic that has been debated endlessly but in practice have seen LLCs for each property or grouped by similar assets (SFHs, land only, etc).